London goes from having the slowest rate of rental growth in England to the fastest.according to Countrywide

The latest Countrywide Plc Monthly Lettings Index report – December 2017 released 15th January 2018 headlines ‘Rental growth accelerates in 2017.’

Last year (2017) rents rose by an average of 2.4%, an increase from 1.8% in 2016 according to Countrywide.

The Countrywide report reveals that London goes from having the slowest rate of rental growth in England to the fastest.

The report reveals the number of homes bought by landlords dropped last year, this fall in purchases has meant a drop in the number of homes on the rental market.

Commenting Johnny Morris, Research Director at Countrywide, said: “Last year saw the rate of rental growth pick up to get closer to its long-term average.  Most of the rise comes from a pickup in rental growth in London, after falls in 2016.  Rents rose across every region of Great Britain last year, although the north of England saw rents rise at a slower rate than they did in 2016.

“Rental growth has been supported by a fall in the number of homes on the rental market, with the biggest fall in London.  It looks like increased competition between tenants for rental homes will drive faster rental growth in 2018.”

Read the Countrywide Plc Monthly Lettings Index report – December 2017 in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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